Wells Fargo & Company Cuts S&P Global (NYSE:SPGI) Price Target to $607.00

S&P Global (NYSE:SPGI) had its price target decreased by Wells Fargo & Company from $633.00 to $607.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 30.22% from the stock’s current price.

SPGI has been the topic of several other research reports. UBS Group raised their price objective on shares of S&P Global from $610.00 to $640.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on S&P Global from $618.00 to $565.00 and set an “overweight” rating for the company in a research report on Wednesday. Oppenheimer dropped their target price on S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Evercore ISI lifted their target price on shares of S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley boosted their target price on shares of S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $591.86.

S&P Global Trading Up 0.5 %

SPGI stock traded up $2.15 on Thursday, hitting $466.13. 298,756 shares of the company were exchanged, compared to its average volume of 1,237,217. The business’s fifty day moving average is $501.93 and its two-hundred day moving average is $505.32. S&P Global has a twelve month low of $407.69 and a twelve month high of $545.39. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $146.29 billion, a price-to-earnings ratio of 37.77, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a net margin of 27.12% and a return on equity of 14.33%. During the same period last year, the firm earned $3.13 earnings per share. As a group, research analysts forecast that S&P Global will post 17.11 earnings per share for the current year.

Institutional Investors Weigh In On S&P Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Howard Capital Management Group LLC boosted its stake in shares of S&P Global by 3.2% in the third quarter. Howard Capital Management Group LLC now owns 911 shares of the business services provider’s stock valued at $471,000 after purchasing an additional 28 shares during the period. Virtu Financial LLC purchased a new stake in shares of S&P Global in the third quarter worth approximately $1,753,000. SkyView Investment Advisors LLC raised its position in S&P Global by 2.5% during the third quarter. SkyView Investment Advisors LLC now owns 4,957 shares of the business services provider’s stock valued at $2,561,000 after acquiring an additional 119 shares in the last quarter. Fulcrum Equity Management bought a new position in shares of S&P Global in the third quarter worth about $200,000. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in shares of S&P Global by 2.2% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,102 shares of the business services provider’s stock worth $5,736,000 after purchasing an additional 235 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

S&P Global Company Profile

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.